AON had decided to write off my 2012 328i BMW due to water damage to the engine of R215k (47%). Car insured at R454k. Why? Only AON knows the answer.
Upon settlement I was advised that the lesser of sum insured vs reasonable retail value would be paid out. I would accept this if my vehicle was a base model.
I have specified approx R50k of extras on my vehicle (which I pay a higher premium for) which certainly has not been taken into account.
Hence the financial impact of replacing my BMW F30 with the spec I had is virtually impossible.
The matter had taken 2 months to resolve, meaning 3 additional payments had been made to BMW finance by myself and reducing the liability for AON. This amounts to almost R25k which I paid for a vehicle I no longer own.
I am also left with a shortfall with BMW finance, which doesn't bother AON at all despite being told by Carina Fleming that the shortfall would be settled.
I requested that my entire policy be cancelled which I have had since 2006 with AON. 3 days later Minishree contacts me to find out why? Feedback provided, awaiting a response. I have since been quoted a more competitive premium but cannot get my policy cancelled. Please advise
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